Stay up to date with the latest news from the Netherlands! Enjoy reading!
Dutch-Swiss startup Cradle raises €21.9M for pioneering Generative AI in protein design (Silicon Canals)
Amsterdam and Zurich-based biotech startup Cradle secures €21.9M ($24M) in a Series A funding round, led by Index Ventures with participation from Kindred Capital, Chris Gibson, and Tom Glocer. Specializing in generative artificial intelligence (AI) for protein design, Cradle aims to transform biology research by accelerating innovation in health and climate solutions. Since emerging from stealth mode in 2022, Cradle has experienced high demand, engaging in over 12 R&D projects with industry partners like Johnson & Johnson Innovation, Novozymes, and Twist Bioscience. The funding will be utilized to expand the team, enhance infrastructure, and further develop the platform, reinforcing Cradle’s commitment to advancing product development and sales capabilities in the AI-driven biology space. Read full article here.
Investments in European tech companies are expected to drop by 45% in 2023 compared to the previous year, totaling €41 billion, down from €75 billion in 2022, according to the State of European Tech report by British investor Atomico. The decline is attributed to falling valuations, higher interest rates, and economic headwinds. Despite the challenging environment, the Netherlands is faring relatively well, experiencing a 21% decrease in investments to €1.9 billion, the smallest decline among European countries. The country is rising to the top five in terms of tech investments in Europe, showcasing the strength of its ecosystem. While 2023 and 2024 are expected to be challenging for the tech sector, Atomico notes positive long-term prospects. The European tech sector is growing, with more startups than in the United States for consecutive years, employing 2.3 million people in 2023. European venture capital achieves better long-term returns than American counterparts, and the sector is valued at approximately €2.74 billion, reversing a decline observed the previous year. Read full article here.
Amsterdam’s ImpactPilot set to revolutionise customer success through HubSpot integration (Silicon Canals)
ImpactPilot, the brainchild of Konstantin Goncharuk and Pieter Boon, former founders of 24sessions, is set to revolutionize customer success through its integration with HubSpot. This innovative startup addresses a crucial need for SaaS businesses to shift from reactive to proactive customer success strategies, especially in the challenging landscape of customer retention. ImpactPilot aligns leading indicators with lagging ones, offering actionable insights to Customer Success Managers (CSMs) within HubSpot, empowering them to proactively drive customer success. The platform is designed to be cost-effective, time-efficient, and specifically geared towards enabling proactive CSMs, incentivizing impactful actions aligned with customer outcomes and business goals. Already gaining traction with active customers, ImpactPilot prioritizes sustainable growth and ongoing innovation. Read full article here.
Invest-NL invests in the new Dutch Future Fund of €200 million (fd.nl)
Invest-NL and the European Investment Fund (EIF) are injecting at least €200 million into the Dutch Future Fund, a second iteration focused on investing in innovative companies in the Netherlands. The new fund is smaller than the 2020 version, amounting to €300 million, and will prioritize sectors such as energy transition, deep tech, circular economy, and agritech. CEO Rinke Zonneveld of Invest-NL notes a more focused selection process, emphasizing impactful areas. The Dutch Future Fund serves as a catalyst, attracting additional investments and aiming to direct more European funds to Dutch businesses. The first fund resulted in a combined fund size of €3.7 billion across various ventures, with Invest-NL anticipating the second fund to reach €400 million, supporting investments in approximately 100 startups. The Dutch Future Fund aims to boost direct investments in companies, diversifying from its previous focus on funds. Read full article here.
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